Cyprus gas find its largest yet
Gas bearing reservoir could represent 5-trillion to 8-trillion cubic feet of gas
Athens — Exxon Mobil has discovered natural gas off the coast of Cyprus, a find authorities say is the biggest off the Mediterranean island since it started drilling for gas in 2011. Exxon said it had encountered a gas bearing reservoir at a well southwest of the island, which could potentially represent 5-trillion to 8-trillion cubic feet of gas. “This is the biggest find so far in Cyprus, and based on some official data it is one of the biggest finds worldwide in the past two years,” Cypriot energy minister Yiorgos Lakkotrypis said. Cyprus has one gas field, Aphrodite, which contains an estimated 4-trillion cubic feet of gas discovered to the south of the island in 2011. “We are very encouraged by the results we’ve seen in the well,” said Tristan Aspray, vice-president of Exxon Exploration for Europe, Russia and the Caspian. Exxon owns a 60% stake in the block, known as Block 10, while Qatar Petroleum holds the rest. “We will be spending the next several months analysing all data ...
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